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CSPAN
Apr 12, 2010 8:30am EDT
are the c-span video library, cable's latest gift to america. >> all this month see the winners of c-span's student cam video documentary competition. middle and high school students from 45 states submitted videos on one of the country's greatest strengths or challenge the country's facing. watch the top-winning videos every morning on c-span at 6:50 eastern just before "washington journal." and at 8:30, during the program, meet the students who made them. and for a preview of all the winners, visit studentcam.org. there are. >> this past friday iranian president mahmoud ahmadinejad unveiled a third generation of centrifuges that he says will produce fuel for as many as six of his country's nuclear plants. in a speech he talked about the advancements in his country's nuclear program and criticized the new strategic arms treaty signed by president obama and russian president medvedev calling it a big lie. here's a portion of his remarks courtesy of iran's news channel. this is about 20 minutes. >> translator: nuclear energy is a very appropriate replacement for fossil fuels. but actu
CSPAN
Apr 15, 2010 12:00pm EDT
congressman from the first district -- the first district of america he'd like to say -- but the first district of virginia, congressman whitman, who i did not know before the trip but was very impressed with. i came away -- my general impressions of what's going on in afghanistan, and i was very skeptical when i went over there. i thought we got an honest assessment. i thought they talked about the positives, the negatives, the challenges ahead. i agree with you that i i was vy impressed with the leadership, both civilian and military, that we have in the country; impressed with the plan that they put in place; and the keys to the plan, very similar to what we had in iraq, where you have to clear -- basically provide security. and you have to hold that security, not just go and clear and leave. you have to clear and then hold it. then you have to build -- you have to get people opportunities for, you know, they're not just -- they have economic opportunities, some reason to hope. and once you build, then you need to transfer the authority to the -- in this case -- the afghan peo
CSPAN
Apr 26, 2010 8:30am EDT
to increase homeownership in america. yet as we now know, homeownership reached unsustainable levels and became too much of a good thing. like all the players in the home mortgage market, bank managers at wamu and elsewhere mistakenly believed they were effectively averting risks by moving loans off their books and securitizing them. similarly, homeowners received little risk in their adjustable rate mortgages because they thought they could sell their homes at a profit before rate resets kicked in. investors believed mortgage-backed securities carried little risk because credit rating agencies rated them highly. those beliefs proved misplaced when the real estate market collapsed, the secondary market froze and the risks turned out to be all too real. the fallout hit financial institutions large and small with state and federal charters overseen by every banking industry regulator. since wamu's failure, the ots has taken lessons to heart from our own internal failed thrifts, and we have made strides to address the resulting recommendations. we have instituted controls to bett
CSPAN
Apr 26, 2010 12:00pm EDT
america home loans. the hope for homeowners, a theoretical point of view looks nice because the idea of a sharing appreciation feature getting both the homeowner a chance for appreciation and investor a chance to share and that is appealing. but every program has operational concerns. what probably heard hope for homeowners the most was because it was a significant deviation from the standard fha program. the operational hurdles were in place have been very difficult. so we have been working on rolling out hope for homeowners for sometime but were still not there yet. a new program put out by fha which is simpler like eliminating sugar creation will be much more operationally easily to roll out and much more effective from that point of view. >> thank you. transixty? i would say that while hope for homeowners was a complicated program in terms of how it could be executed, i generally tend to be a little bit more in favor of shared appreciation because i believe that unless there is some sharing of the upside that the whole notion of sharing on the downside doesn't seem fair. i defer
CSPAN
Apr 22, 2010 5:00pm EDT
states senate. about 95% of the nuclear weapons are owned by the united states of america and by russia. there are a lot of groups in this world that are very interested in acquiring one nuclear weapon with which to terrorize this planet. we're now operating under the strategic offensive reduction treaty known as the moscow treaty. it requires the u.s. and russia to have no more than 2,200 deployed nuclear weapons. there are many more than that. i'm talking about deployed in the field by 2012. the strategic offensive reduction treaty that we're now operating under does not restrict any nuclear delivery vehicles at all, airplanes, missiles, and so on, and it doesn't have any verification measures and it expires in 2012. so a few weeks ago in prague, the czech republic, president obama and russian president medvedev signed a new strategic arms control treaty. it's called start. and i compliment the administration for successfully completing this treaty. i was part of a group here in the united states senate that continued to meet with and review with the negotiators the progress of
CSPAN
Apr 19, 2010 12:00pm EDT
of this material comes into the united states. but let's something happened in south america? if none of us know about it and we don't start putting our ears to the ground then there's a good chance the bad people out there will do something about it. i think we have to be far more proactive on intelligence part of the game to be able to preseptember. so these are ideas that we have worked at the summit, i think quickly as possible, these proposals will be articulated and i hope by the next time, we meet, as part of the international community, there will be standards that will be set and adhered to. so i am very excited and thought, great job on the president. he did very well. >> was there any talk of a clearing house, of an international clearing house so you knew what other people did and did not do? >> yes. and again, as president obama mentioned inside the summit, obviously every country has, there are a lot of countries that have known military programs and obviously there is civilian one. there may be sensitivities on countries giving out too much information. i'm talking
CSPAN
Apr 13, 2010 12:00pm EDT
is a question we wish to pose to the citizens of united states of america. this is our country. and this video is voicing our opinions. oh the next generation of americans, in an effort to make some changes in a serious way to our system. ♪ . >> on december 9th, president obama made a speech to joint session of congress and to the nation of the ever more critical necessity for health care reform. it seems the majority of nation knew now that the world's greatest superpower, needed to have an efficient or ethical system treating americans for their medical needs. >> i'm one of probably 40,000 people in the san francisco area who don't have health insurance and, that's why this issue is so important to he because, if i get sick, if something bad happens to me, i don't have any insurance to cover me. i also, if i want to go visit a doctor, i have pay full price. so, it doesn't matter to anybody than just getting affordable health, doesn't matter to anybody more than me. ♪ . >> the world health organization recently rate america as only 37th out of 191 countries in the quality of ou
CSPAN
Apr 27, 2010 12:00pm EDT
house. and so, here you had this incredibly tumultuous period in america and yet our political process was really remarkably stable. then in 1994 you had, it was president clinton, remember, first term, midterm selection. you had newt beginning republican led tsunami tidal wave election that swept democrats out of the house first time in 40 years and senate, democrats had 34 out of 40 years. for the next 12 years, republicans had control of the house and for much of that time, also controlled the senate. president was evenly split during that period of time. then in 2006 you had another tidal wave election coming in although this was a democratic tidal wave election that was washing republicans out. so in 2006 republicans lose their majorities in the house and senate. so here we are in 2010, jugs four years after that last wave election and we're looking at another wave. and, the question is do democrats, they're, democrats are almost certainly going to lose their majority in the senate. the thing is, they're barely lose, they're either going to lose the house or come really close to l
CSPAN
Apr 21, 2010 12:00pm EDT
president fails, america fails. and we all suffer, republican and democrat alike. we have to get out of this mind-set tat -- mind-set that if president obama is for something, everyone has to find ways to block. i agree with the observation earlier this week concerning the schroeder nomination, the remark that perhaps republicans were blocking this nomination because professor schroeder has been nominated to lead the office, the best potential judicial nominees. well, he's right, just as senator kaufman spoke so eloquently on behalf of professor schroeder today. it seems that to deflect criticism for the republican delays on obstruction to judicial nominations has left 25 judicial nominations languishing on the senate calendar. senate republicans have tried to place the blame by sending too few nominees to the senate. by making a lose-lose proposition, the same republicans who held up the nomination to lead -- in other words, they stopped the person who is supposed to do the initial review on judicial nominations, and then they say, oh, my goodness, president obama's not sending up enou
CSPAN
Apr 1, 2010 12:00pm EDT
. the c-span video library, cable's latest gift to america. >> next, a conference on media regulation and the first amendment. we'll hear about new technology and the future of journalism. it's a little more than an hour. >> the last panel -- our last panel is going to be talking about what's been on everybody's mind all the way through. and that's the first amendment. i was struck by the title of the first panel. technologies of freedom. and there seemed to be a consensus among the panelists that the new communications technologies were indeed technologies of freedom. that is, i think, maybe contested. in 1983, a political scientist and arrested innocent first amendment advocate wrote a book called "technologies of freedom." and the irony of that title was that he thought that, in fact, the new technologies might turn out not to be technologies of freedom of speech. the argument was as follows basically. as electronic media had become dominant and displaced the print media, they brought with them a culture of regulation because all the electronic media, of course, were creature of re
CSPAN
Apr 23, 2010 9:00am EDT
be in places like asia pacific, latin america. so when you look at something like australia where the regulators took in my view an extremely ill-conceived course that they have thus far refused to back down from and you look at the empirical data -- what the reserve bank of australia thought was by artificially suppressing interchange it would somehow benefit consumers. and they were also hearing from the very few because in australia the merchant population is fairly concentrated merchants who said, what we would like you to artificially lower our costs. well, they did artificially lower the costs to the retailers. the retailers in australia are paying far less for digital money than others around the world. those retailers didn't lower their retail prices. they didn't provide extra coupons. they didn't provide gift wrap paper or anything of the kind for consumers. so consumers in australia took it in the shorts one way, if you will. and then secondly, the rewards portions of the card was rolled back. the fees were increased. so consumers got hit a way in australia. so i am very
CSPAN
Apr 9, 2010 12:00pm EDT
mines with allies for justice because most people in america, not to you guys who are and law school and lawyers and law teachers, but most people will have no idea what judges do and most of them, most americans feel as if they cannot have an opinion about a judge. judges to the americans are up there and thus of us are in a little bit intimidated by judges and the issue of justice every year. we do focus groups in philadelphia and we are holding one actually tamara just to gauge what people are thinking about the courts and is amazing to me almost no wind and groups of 35, 40 people we bring together every year has any idea how many justices there are on the courts. now one generally can name a supreme court justice. if your arm by a huge income of which is a little bit above how shall we say this, 55, you might know clarence thomas because we lived through a very acrimonious hearing before the senate judiciary committee around thomas's nomination. but generally speaking there are opportunity, a supreme court nomination is an opportunity just for the american people to learn of a b
CSPAN
Apr 23, 2010 2:58pm EDT
, $72 million for 2010, a must do to keep america competitive. there are extremely erratic changes to the constellation program and that will be a subject i know a great deal of focus. -- in the area of the constellation program we want to be sure and codify is the president talking about canceling the constellation program for restructuring the constellation program? it will be a major of kind of the deep earth probe from this committee? i just want to come back to the science budget, which i think what we're going to focus a lot with constellation we must focus on the other aspects of nasa. there is a strong come for since on earth science and the budget also includes 1.50 yen for planetary science, for research on asterisk, mars, saturn and beyond. all we would need to do in order to get ready to go there. there's also when the astrophysics budget request in the $688 million for cosmic origins. we know for a committee to remember the astrophysics of appropriation also supports the hubble space telescope celebrating its 20th anniversary in space and also the building of the james we
CSPAN
Apr 9, 2010 9:00am EDT
constituencies, corporate america, your own company, wall street, and a mission driven and a public purpose, but what was really striking to me is in this list of 17 companies, which i will not make you listen to, but i do note that they include aig, countrywide, allstate, american express, wachovia, u.s. bank corp., citigroup and wells fargo among others, there is not one single company there that is a mission-driven company. and i would wonder if you could explain to me, please, why you did not compare your compensation to say, someone like the director of the homeless coalition, because if you have a public purpose, then would your comparables at least not be balanced as much as your goals are, when you think about your comparables? >> that would be the -- two points. that would be the reason that instead of total compensation being pegged to 100% of the market, it was pegged to be 70% of the market. secondly, my experience in the company was that for the people that we hired, or the people that we lost, out of the company, most them tended to go to companies like those that you mentione
CSPAN
Apr 8, 2010 9:00am EDT
c.e.o. of citigroup and mr. robert rubin, the former treasury secretary of the united states of america, as well as the chairman of the executive -- former chairman of the executive committee of the board of directors of citigroup. thank you, gentlemen, for being with us here this morning. what i'd like to do to start off as we are doing with all witnesses who appear before us in the course of our hearings, both before you and after you, is we are customarily swearing every witness in, so with that, i'd like to ask each of you, both of you, to please stand up, so that i can swear you in front of the commission. [witnesses sworn in] >> thank you very much. gentlemen, you have provided us with written testimony, which we have in hand and i'm going to ask each of you this morning to provide us with oral testimony of not to exceed 10 minutes. and so with really no further ado, mr. prince, i will ask you to start this morning. please turn on the microphones and pull them as closely to you as you can and let's commence. mr. prince? >> thank you. chairman angelides, vice chairman thomas, membe
CSPAN
Apr 12, 2010 12:00pm EDT
them is i think there's a perception in the west and certainly in america that, you know, americans would be very surprised to find that iran has an extremely vibrant, diverse art community and one of the real strong sense of the exchange program has been around the arts and photography, et cetera. and it plays into something that another area, which is that religious exchanges are person-to-person contacting in those areas, and i know you have some experience writing about it and working in some of those areas. i wonder if you could speak to the religious aspect? and in particular you talk about civil society something as a broader issue. >> that's an interesting question, and, you know, again because iran is such a difficult country to understand, i mean, that's why it's so interesting, so dynamic, i think that americans tend to either view iran as a really religious traditional society, or as a secular one. and that somehow they don't understand that it's much more complicated than that. but i think, you know, as part of that it's -- years ago for example, even as recent as three
CSPAN
Apr 28, 2010 9:00am EDT
lights on in america, so it isn't really a choice for them, this culture. to me, the culture has to start from the top and i'm going to give you an example, and i'll be short, mr. chairman, as i always am. i was governor for eight years in west virginia and we were having unacceptably high death rates in hour mines. i decided that as chief executive, that is, c.e.o., that i would go to each of the mines where the mine inspectors would gather, after there had been a death. that had never happened before. there i was sitting, as there were trying to explain to each other what happened and who should have done what. things happened. everything was different, because the culture change took place at the top. now i'm not saying that i changed the world, but it did have an effect and that's why in a secret world it end of 35 miles of hard driving, and then a thousand to 2,000 feet underground, when only a few -- or only a few people from that state or from any state have ever been, it has to come from the top. it has to come from the top. >> mr. chairman, related to that, i have been down in an
CSPAN
Apr 20, 2010 9:00am EDT
infrastructure tax act to assist small businesses and extend the very successful build america bond program, which experts have called, and i quote, one of the economic recovery efforts biggest successes. well, we heard -- had a hearing last week on green jobs. and a distinguished reporter was here. was there, i think, for all of it. it went from 10:00 until 6:00 pm. it was a useful hearing, i think. and we're now looking at further legislation. and several business spokespersons had something to say that i thought was so significant from gm and dow about the need for an active public partnership with the private sector to develop technologies shaping our future. and these two people said it could not have happened only relying on markets themselves. and it was this that characterized programs of so many of you know in the recovery act. the battery grants which have helped to spark the beginning of a renaissance in michigan and elsewhere and industrially. it's interesting as i talked to my colleagues, how many of my colleagues say i come from the state that is going to be the new ce
CSPAN
Apr 14, 2010 9:00am EDT
have to go to bank of america. let me cover that you on this principal reduction program. i think that when businesses do well we have to acknowledge it. and you should be complemented. for what you have done. >> thank you. >> there will be no demonstrations. >> tell us briefly why you see principal reduction, as a significant means by which we can impact foreclosures. >> because there are some borrowers for whom the offers that we have extended, so far, have not been generous enough. and in order to enable -- who truly want to stay in their homes -- >> let me move one step further because i'm about to lose my time. would this also impact the overall economy what you are doing? >> we believe that bring stability to neighborhoods, by ensuring those homeowners who want to stay in the homes can get to and affordable payment and have, through the vision for the future of that homeownership is important, at the same time we do believe that there are some borrowers for whom, as being able to afford staying in the home, is not a viable alternative and so we need to work with them to transitio
CSPAN
Apr 22, 2010 12:00pm EDT
mistake. we need to be sure that the proposals address the needs of main street america, leaving them out would be another mistake. rather than focusing on concerns of wall street, i spend my time focusing on the concerns shared with me by my constituents back in missouri. missourians expect real reform, but demand that congress -- one specific area of concern is the creation of the so-called consumer financial protection bureau. the cfpb, this massive government bureaucracy has unprecedented authority and enforcement powers to impose duplicative mandates. we're not talking about big banks, but also your community banker, local dentist, as a result, there will be no choice but to pass these added costs on to consumers, the very bill is -- peep -- the people the -- people this bill was designed to protect. the only way to ensure the cfpb does not unintentionally hurt well-performing institutioning that issue credit is to narrow the scope and authority with clear language outlining who this new regulator will regulate. surely my colleagues would not want to vote for a bill that creates a ne
CSPAN
Apr 30, 2010 9:00am EDT
adjunct to america's transportation system. now having said all of that and complimented you sufficiently, let me -- >> devil's lake on your mind, senator? >> mr. swkrao: yes, it is. yes, it is. you mentioned i think that the empire builder is probably one of the most successful long distance trains on the amtrak system. the senator from washington knows that, because that's where the empire bear in minder ends up. over -- builder ends up. over half a million people get on that train from chicago to seattle, it goes through north dakota and we face a problem. we have chronic lake flooding that's been going on for a dozen years now in what is called devil's lake. dramatic flooding. i think it's the only circumstance other than the great salt lake, where you have a closed basin, we don't quite understand where all of this is going to go, but the lake has increased in height, i think 25 feet now, and it just continues to rise. this year, it's expected to rise again. we have a bridge near church's ferry on a track owned by burlington northern, where amtrak, i believe, slows down
CSPAN
Apr 23, 2010 5:00pm EDT
i'll paraphrase, u.s. president barack obama has lowered the addition of america under the obama plan, space is not the final frontier. under the florida today article appeared april the 16th, says obama doesn't get it. space is last frontier. president obama in effect pulled the plug on our space program in a speech here thursday, talking about florida. although he masked it was some vague long-term suggestions. the late president, john f. kennedy, must've turned over in his grave. jfk loans to the moon program in the 50's because he understood that any nation that must remain number one on earth must also be number one in space. a couple of questions. it's my understanding, mr. administrator, that there's been a lot of internal discussion at nasa regarding how to circumvent for fiscal year 2010 language that limits nasa's ability to terminate or to alter the current constellation program. given the importance of this issue, we need to understand her of the committee the legality of decisions nasa is making relating to the program if records, especially in view of legislation. could
CSPAN
Apr 19, 2010 8:30am EDT
latest gift to america -- cable's latest gift to america. >> and now a portion of a white house conference ononservation and outdoor recreation. speakers include interior secretary ken salazar and new mexico governor bill richardson. this session focused on how local strategies can be used to help conserve public lands. from the interior department, this is just over an hour. >> ladies and gentlemen, what did you think of president obama's presentation this morning? was it a great presentation? [applause] yeah. some people have said that in these times with two wars, with the economic crisis that we can't have a conservation agenda, but i think president obama laid that to rest this morning. we will have a conservation agenda for the 21st century that we can be proud of and we may, in fact, surpass the legacy of teddy roosevelt. we may, in fact, do that. [applause] we have a great panel, and we will run through this very quickly, but we also have one of our great honored guests and all of you are honored here today. we could have had 50,000 people together here today, but we bas
CSPAN
Apr 9, 2010 5:00pm EDT
this is america everywhere. >> to see all of the winning entries of this year's studentcam competition visit studentcam.org. >> let's make another winner from our c-span studentcam documentary competition. we asked students to give us a five to eight minute video on one of our country's greatest strengths or a significant challenge that our country is facing. today we meet aleczander reese from bend, oregon. he is in eighth grade. congratulations, aleczander. >> thanks. >> tell us, what was your video about? >> it's about how the economy is affecting children today spend how is affecting you in order to? >> well, it's making it harder for people to make ends meet, and it is making it so my friends are working out -- moving away. so i don't have as many people to hang out with. >> why did you pick the subject? >> over the last year or so i noticed more houses going into so i decide to ask my friends and family about why, and they told me that the economy is starting, it is so poor and making it hard for people to make ends meet. >> what were your thoughts on your friends lea
CSPAN
Apr 21, 2010 5:00pm EDT
out of all the prosecutors in america by attorney general janet reno to conduct a very sensitive investigation of president clinton when he was accused of some wrongdoing. he conducted that, concluded no charges ought to be brought. this was a highly qualified person and was blocked. so, mr. president, our time is out but i know that -- that every nominee doesn't get to be brought up immediately when they're -- they are called -- when they're -- some people would want to call their nomination up. it requires unanimous consent to bring up a nominee and immediately get a vote and unanimous consent isn't always given, so it slows down people. but i -- and i do believe we ought not to unnecessarily delay persons, but i would want to say that the i ca alacrity by which president obama's nominations are moving far surpasses anything like the difficulties that president bush's nominees had. i've been here, i've seen it, i know that to be a fact, and i hope that we can create a climate where judges have a reasonable time on the docket, they are -- have hearings in judiciary, opportunitie
CSPAN
Apr 30, 2010 12:00pm EDT
america. we actually spent the money to pay for the destruction of a missile silo under the nun-lugar program. what a -- under the nunn-lugar program. what a spectacular success that is. mr. president, this is a picture of a submarine being dismantled. that is a russian submarine. it's a typhoon class ballistic missile submarine. it would have carried missile tubes. those missile tubes in that submarine under the water would have contained nuclear warheads that would have been used to destroy our country. and here is an example of the missile tubes on that submarine. these, too, were destroyed. i have a little vile of copper wire that was ground up that came from that submarine. now, we didn't sink that submarine in an act of warfare. we actually paid to have that submarine dismantled and the copper wiring ground up, and i have some of the copper wiring here in my desk. just to remind us how important this program has been. now, mr. president, we have on this earth about 25,000 nuclear weapons, roughly. this comes from the union of concerned scientists in the 2010 area. russia has, it
CSPAN
Apr 1, 2010 9:00am EDT
the energy policy initiative at the new america foundation. i come to policy as a reporter, i spent four years hanging out along the oil supply chain and watching how the sort of microeconomies of oil work together. i think one of the things that sticks in my mind when i think about the task that we have in front of us is that the mckenzie global institute estimated that over the next 40 years, we essentially need to have the productivity growth of the industrial revolution, which means that we node of to have the industrial -- need to have the industrial revolution in triple time. that is a huge whoosh of activity, an enormous opportunity and of course, an enormous upset, the equivalent of the previous industrial revolution. and i think the real question is, how do we get to the power stick that skip talked about. how do we make sure that we're on that path. one ethics that's really a problem in the u.s. at the moment is that the issue of green house gases has become a competitiveness issue. right now, we -- which may seem strange. if you talk about it here, it seems like it's a hu
CSPAN
Apr 19, 2010 5:00pm EDT
stacked up containers blocking the river. so we were one of the most under part cities in america and our children were suffering from that on different levels. my first year i had a fight break out in the early days between little leagues and other sports in my office because there was no usable field. it we have a situation where type two diabetes is rampant in our city because kids have no place to go out and play you're even more so which is important to me is that since you do not have these people -- space is readily available he started do ultimately undermine the kenaf's and harsh social beings and as a result with you dislodge the social connections that make strong communities. we immediately very aggressively tried to return our citizens to nature and really rediscovering that which is themselves by tearing down walls and barriers, moving to rediscover rivers, opening up parkway and taking sitting down center of them into useful park space and a final thing i'll say is not just within the newark but the beautiful areas around our city so we started to try to expand programs
CSPAN
Apr 23, 2010 12:00pm EDT
chief operating officer, interim chief executive officer for motion picture association of america. >> thank you, chairman moran. [inaudible] this is first for me, members of the committee, thank you very much for allowing us to be here today. i'm appearing today on behalf of the six companies that are represented by the motion picture association but also on behalf of a really unprecedented coalition of members of the industry who are traditionally frankly, warring parties. you have present at this table representatives of labor and management. representatives of exhibition and distribution, and representatives of large studios and small independent producers. to envision all of these groups together on a single issue is almost unimagineable but it is this issue that has brought us together. the second thing i would like to say i come before you as a representative of a trade association but also as someone who actually spent 25 years in the movie industry. i have been an executive at paramount, mgm. i was head of the screen actors union. in the course of my career in industry i'v
CSPAN
Apr 30, 2010 5:00pm EDT
warning system. and is serving as an early-warning system to the united states of america. as we know, i believe greece is having to restate their deficit to gdp ratio up to about 12%, but right now we have a deficit to gdp ratio of 10%. we know also at the end her of the president's tenure budget window according to estimates by the congressional budget office and the general accountability office, we are looking at a debt to gdp ratio of 90%. all economists will tell you that's when the neagle enters the read some. press reports indicated that members, chancellor miracle party in germany, they call upon greece to sell its sovereign territories. in order to deal with its debt crisis. sell sovereign territory. i hope and pray the united states is not on the path to becoming greece without the aegean sea and the parthenon, but there are lessons to be learned here for us. there also press reports that indicated that when argentina comment monday defaulted on their debt -- i don't believe the united states would ever default on our debt, but when argentina defaulted on its debt seven or
CSPAN
Apr 16, 2010 9:00am EDT
china, latin america. in this case only, these decisions, if it is needed, are able to give result, and talking about middle east and what can happen over there. if the nuclear programs is implemented and a nuclear conflict arises, that would be a gigantic catastrophe. we all can imagine what can happen on the middle east if just one terrorist act happens there, or nuclear arms is used. middle east is called middle east because it is so small, and it is enough for bombings happen in one place for it starts spreading all over the world. and that would trigger a humanitarian catastrophe, and huge exodus of people from different countries. and the bad thing that it will trigger the nuclear arms race. many colleagues from iran will say that if iran gets nuclear arms, they will have no scruples with having as well. and this will in large the nuclear club, and then no summit will help if all of those countries have nuclear arms. that will open a new page in the history of humankind, which will be very sad. and i hope that we will be able to agree and managed to solve this issue by politi
CSPAN
Apr 28, 2010 5:00pm EDT
melt down, america continues to suffer the effects of the worst economic crisis since the great depression. millions of americans have lost their jobs, homes, and their retirement savings. although some key indicators are beginning to move in the right direction, many families -- like those that we no in minnesota -- are still struggling and the economic damage is so slow to heal in their towns. on wall street, however, it seems to be back to business as usual. last year wall street's largest firms handed out record bonuses totaling nearly $146 billion, an 18% increase from 2008. meanwhile, overall u.s. per capita income declined 2.6%. so it's little surprise that wall street financiers are not enthusiastic about reforms that could change the way they do business. in fact, some of them claim that wall street just has a few potholes that need fixing. well, i think it needs more than that, mr. president what. wall street really needs is more stop signs at key intersections and some really good traffic cops. this bill that we have today, it is the product of months of bipartisan ne
CSPAN
Apr 14, 2010 12:00pm EDT
that are important to protect consumers in america, to be able to give those who have been wronged and opportunity in our judicial system to have courts that can handle their dockets in a timely way. all of that is dependent on the united states senate carrying out its responsibility to advise and consent, to take up the nominations of the president. so look what's happened in this congress, because i think -- let me point out the district court judges. district court judges are the judges that hear the overwhelming number of cases. if you have a problem, you go to the federal courts, you're going to go to the district court. that's wher where 99% of the cas are going to be heard. in 22350 when george bush became president -- in 2002, when george bush became president, when 35 of his district court appointments were confirmed by this time. they waited on average 13 days after being reported out by the judiciary committee for confirmation votes on the floor of the united states senate. and on this date there were no further pending district court appointments that required the confi
CSPAN
Apr 8, 2010 12:00pm EDT
commission is. the very first of hearings at j.p. morgan, citi, bank of america, morgan stanley, but not citi and everyone was asking where is it? we're told just a way. so right now they're looking at citigroup as kind of as an example of one of the most extreme cases of the securitization that's gone on. where mortgages, many of them subprime mortgages that were bot i buyers who had not otherwise be qualified for home mortgage. were packaged and sold by citigroup to investors. but at such a high rate that investors, when underlying mortgages if there's a big into default, that created a cascading series of actions that lp repair the financial system. >> host: the folks at the financial times were a trick so much it was front page headline coverage of the fact that citi relied on outside advisors on its decisions about securitization. did you find it interesting? >> guest: i found it interesting but part of the process, been difficult to explain to the public and one thing that has frustrated the commission is the process got broken up into so many different segments. you had the mo
CSPAN
Apr 16, 2010 5:00pm EDT
that served america well. and there is no going back. i think there is no such thing as an experiment on this in the supreme court. you have to decide it. and that's what i think what's needed is a comfort level that, by giving a comfort level, it may come sooner rather than what i tend to agree with you on. inevitably later. now how to get that comfort level is a long, complicated matter. i've always said it will involve studies and series of studies, not just once promoted by the press, serious studies of what happened in different places. and when i say that, everyone goes to sleep. because if you mentioned the word study. but i think something like that is necessary. so i like the pilot programs. even in the courts. i think there are things to be learned and i think eventually we will get the comfort level, but i think we are not there y yet. >> justify can engage a little bit on that, because you know, i think you mentioned three different points, probably the most substantial being that, well, people could misunderstand because the case only ostensibly applies to the
CSPAN
Apr 13, 2010 5:00pm EDT
believe that its a he very important -- that it's very important that we diversify america's energy supply, we maximize the production of renewable energy, that we produce more here at home and, yes, that includes oil and natural gas. and, madam president, the use of coal is also very important and the use of coal using new technology to decarbonize the use of coal is important. we can do all of these things. our legislation includes provisions that will accomplish that. we neendz our legislation to come to the -- we need our legislation to come to the floor of the senate from the energy committee. i would say awful those who -- i support a carbon cap and i will support pricing carbon. that does not include support for cap and trade. if we haven't learned anything from the last decade or so about what wall street would do with ads 1 trillion carbon securities market, then we're pretty ill-prepared to legislate on these issues. so, madam president, there are not a lot of weeks left in this legislative session, and my fervent hope is, i would say to those who have been working on clim
CSPAN
Apr 13, 2010 9:00am EDT
basically only two other institutions in america. and almost none around the world. the two in america being the national institutes of health, and national science foundation. where we allocate federal funds based on peer review. and so we bring the best and the brightest in america in various fields to assess projects or grants or scholarship. of one kind or another. and so when you ask about goals, one is to preserve the institution as it's come in to being. and has developed a rather wonderful track record. but beyond that, they are challenges of the time. and so i've laid forth two that i consider to be initiatives that aren't exactly goals but there's a hard, kind of thin line between a goal and an initiative. one i called bridging cultures where we're looking at putting a greater emphasis on what it is that makes a people a people. and then what it is that makes people differentiated. and we're a society that has a wondrous national culture. but we are also a mosaic of subcultures. so understanding ourselves is very important. and then we're looking at a world in which there are
CSPAN
Apr 15, 2010 9:00am EDT
attacking the united states of america? >> well, but let's look at what happened with regard to the detroit bomber. abduabsenteeism umar farouk abdulmutallab. they had the present of mind, given their knowledge of law, to understand that in that initial interaction, they did not have to give him his miranda warnings and the information they got from him can be used in a trial against him under the public safety exception, and -- >> well, i don't know if public safety exception goes to 50 minutes. have you had any case that's ever gone that long? >> oh, i think -- >> where you say to somebody, do you have a gun. >> oh -- >> do you have a bomb, but after a while, that exception ends. >> well, i'm going to say as a former judge, given my experience, given that set of facts, i would think that the government has acted appropriately here and statements from that gentleman would be admissible in a trial. >> well, i would just say that it would be -- the defense lawyer would make that point, i'm sure. >> oh, i'm sure they would, but they would lose in holder's court. >> this is really sign
CSPAN
Apr 27, 2010 9:00am EDT
vote for them. that's what i think anyway. >> and do you have any opinion about america's political system? did you watch the u.s. presidential debate? what did you think? >> it's kind of hard because i actually don't live in america. i think it's like -- it's just like here. you know, you get your chance to vote. you have your own say. like barack obama, he's a democrat like the labour party. and what was his name, the republican, john mccain, it's like the conservatives. so it's very similar. >> chairman and chief executive of medco health solutions, dave snow announced his company will benefit from the new u.s. health care bill this year. during his speech to the detroit economic club. medco is the largest u.s. pharmacy benefit manager and operates the largest u.s. mail order pharmacy. this is about 45 minutes. >> back in that period of time i was there like many of you and you felt that. and you experienced that. and not only on the east side of detroit but both my degrees coming from wayne state university, it all sort of touches. it's interesting, you know, when you look at th
CSPAN
Apr 27, 2010 5:00pm EDT
cannot do it without this bill. to do that, we have to restore america's faith in our ability to take strong, corrective action against the bad actors that perpetrated this crisis. yes, this is our moment to act and yet we cannot. the other side of the aisle will not let it happen. derivatives were exempted, as i say, from regulation in the commodities futures modernization act of 2000. that law created massive regulatory loopholes, like the enron loophole, which prohibited the commodities futures trading commission from overseeing electronic exchanges. the london loophole -- allowed for -- the swaps loophole, which allowed for unregulated bilateral trades through brokers, swap dealers and direct party-to-party negotiations. together these loopholes have been responsible for some of our nation's worst economic crises. they must be closed. i first became aware of the problem of unregulated derivatives during the western energy crisis. the year was 1999 when enron traders fleeced californians for approximately $40 billion in artificially inflated electricity and natural gas prices.
CSPAN
Apr 28, 2010 12:00pm EDT
. again, mr. president, america has been through financial collapses and deep economic downturns before, but we learned in the great depression, we learned. f.d.r. answered that crisis by implementing tough new regulations to stabilize the financial system, rein in risk taking and recklessness on wall street, make the economy work for ordinary americans. because of those -- those reforms made in the 1930's, we had decades of shared economic prosperity unprecedented in our nation's history. and then we threw it all overboard about ten years ago, 11 years ago. what we did in the 1930's needs to be our model. not the same, but it's a different system. it needs to be our model as we shape today's financial reform legislation. financial reform legislation ought to separate these big entities out. we can't have too big to fail. we need to have transparency. we need to stop banks from engaging in swaps and derivatives back and forth if they are backed by the fdic. now, these amendments, the cantwell amendment, the merkley amendment and others that i happen to be supporting, again we can't offe
CSPAN
Apr 29, 2010 7:31pm EDT
finally concentrating risk in america this bill will shift derivative trades offshore to places where we have no oversight or regulatory abilities to act. mr. president, the proponents of this bill also argue their regulatory gaps are being closed and the bill somehow simplifies and rationalizes the regulatory framework at the kansas city fed president said and i quote, this bill actually increases the complexity of the regulatory structure as well as creating unnecessary costs. as is often the case with this bell, claims about what it does, does not match the language itself. they claim its regulatory simplicity, the language means there will be increased complexity. mr. president, i've highlighted here this afternoon some of the major problems in this bill. it will not in taxpayer funded bailout such as written, it provides for a drastic expansion and overreach of government into the economy and every aspect of our personal and rental lives, it also raises the cost of risk management and threatens the ability of companies to manage risk using a derivatives while potentially ac
CSPAN
Apr 29, 2010 12:00pm EDT
allegiance to the flag of the united states of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. the presiding officer: the clerk will read a communication to the senate. the clerk: washington d.c., april 29, 2010. to the senate: under the provisions of rule 1, paragraph 3, of the standing rules of the senate, i hereby appoint the honorable kay hagan, a senator from the state of north carolina, to perform the duties of the chair. signed: robert c. byrd, presidet pro tempore. mr. reid: madam president? the presiding officer: the majority leader. mr. reid: note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. mcconnell: madam president? the presiding officer: the republican leader. mr. mcconnell: i ask consent the quorum call be dispensed with. the presidin officer: without objection. mr. mcconnell: madam president, many kentuckians awoke this morning to the sad news that one miner was killed and another is missing after a ceiling collapsed in an underground coal mine in webster
CSPAN
Apr 20, 2010 5:00pm EDT
unblemished record, has served america for 30 years, gone to war for this country, and was told by the armed services committee, republicans and democrats unanimously, by senator levin and senator mccain, you deserve a promotion to the second star as a major general. but six months later this is not a major general. this soldier has lost his promotion for the last six months because of one senator saying "i'm going to use this soldier as a pawn in my concerns and demands about the corps of engineers." i could go through the rest of these demands. let me go through a couple if i might. out fall canals and pump to the river, he's making demands about that. let me tell you about that. we had a vote on this, and he lost. and he doesn't like it. so the appropriations committee, the full committee voted, and he lost. why did he lose? because what he wants to do is the most costly approach that will provide less flood protection for new orleans. so you want to spend more money for less protection? the appropriations committee voted on that. i led the opposition. the appropriations committ
CSPAN
Apr 20, 2010 12:00pm EDT
power over our economy. mr. president, the four major u.s. banks: bank of america, citigroup, j.p. morgan j.p. morgan, chase and wells fargo, issue two-thirds of the credit cards in this country, write half of the mortgages and collectively hold $7.4 trillion in assets, about 52% of the nation's estimated total output last year. and, mr. president, despite the fact that we bailed these banks out because they were too big to fail, incredibly, three out of four of these institutions are now larger today than they were when we bailed them out. enough is enough. i am joined, as a progressive, by many conservatives who understand that you cannot continue to have that concentration of ownership. not just in terms of the liability to the american people in terms of too big to fail, but in terms of their monopoly control on the entire economy. so if we are serious about financial reform, now is the time to start breaking up these beathat exert enormous impact on our economy. number two, mr. president, we have got to end the absurdity of a wall street selling trillions of dollars in exotic
CSPAN
Apr 16, 2010 12:00pm EDT
i think everybody in america knows when you go into a loan, you've got to verify to the perp that's making the loan -- person that's making the loan what your income is. >> and i do the same thing, senator, and i think that's appropriate. i think we also need to keep in mind the way it's been explained to me is that stated income originally was for high-income individuals -- >> right. >> -- who had income that was hard to document through a w-2. >> right. >> now, what happened was over the years it became commoditized. >> exactly. >> ask the gses started accepting programs. >> yes. >> even their automated underwriting were accepting more liberal perm terms. >> exactly. >> so it became a situation where the documentation kept in the file, quite frankly, sometimes was purged. as you heard earlier today. >> yeah. >> not because it wasn't considered, it was purged because the state income loan had to operate under a given program. >> right. >> in order to qualify for the program, you couldn't have that information on file. so i think -- >> how would you have a program that said you can'
CSPAN
Apr 29, 2010 9:00am EDT
them yesterday and i certainly can attest to that the casino's passion for rebuilding rural america and one central way of doing a disturbed broadband deployment he was mentioning to me and i think it's absolute right. and we have to be concerned about what's happening in our rural economies all across this country. ñwñwñwñwñwñwñwñwñwñwñwñwñwñwñwñw i mentioned women's business centers is another example and the small business development centers. i think we really do have to use all of the presources of sba to make this possible. for small businesses and i know that there was testimony before this committee last week an they said they had the extensive bone structure within the sba, but i'm not so sure it's all being utilized in terms of your recommendation, in chapter 13 of your plan. >> well, my experience firsthand, the leadership of the sba is very focused on this, and you really have a two-part challenge, a little bit to the shoe lace issue. one is take advantage of the opportunity to leverage existing resources that are all over the country to help small busine
CSPAN
Apr 21, 2010 9:00am EDT
united states of america, and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. the presiding officer: the clerk will read a communication to the senate. the clerk: washington, d.c., april 21, 2010. to the senate: under the provisions of rule 1, paragraph 3, of the standing rules of the senate, i hereby appoint the honorable tom udall, a senator from the state of new mexico, to perform the duties of the chair. signed: robert c. byrd, presidet pro tempore. mr. reid: mr. predent the presiding officer: the majority leader is recognized. mr. reid: following leader remarks, the senate will be in a period of morning business for one hour. during that time, senators will be permitted to speak for up to ten minutes each. the majority will control the first 30 minutes. the republicans will control the final 30 minutes. following morning business, the senate will turn to executive session to debate the nomination of christopher schroeder to be an assistant attorney general. there will be up to three hours for debate prior to
CSPAN
Apr 29, 2010 5:00pm EDT
. oil is part of a world market. so there's no guarantee that american-produced oil comes to america for the purposes that we need. hardly a drop in the bucket with no measurable impact on gas prices. i don't want to gamble with the coastline of new jersey or any of these other states for a few tablespoons of gasoline. madam president, this image of a burning rig in the gulf that ultimately sunk and for which we have all of this disaster taking place is a wake-up call to all of us who are committed to finding the best energy options for the future, options that will not put hundreds of miles of our coastline at risk. you know, i don't quite understand why it is that when we're talking about global climate change legislation that we're in desperate pursuit of oil, which is a contributor to the greenhouse gas emissions that we're trying to avoid and, in essence, change from so that we don't have the climactic changes that can thrnts our way of life. that's exactly what we're doing. going after this. so i'm respectfully requesting that the administration reconsider its from expand offshore
CSPAN
Apr 7, 2010 5:00pm EDT
tragic attacks on that fateful day and provide recommendations so that indeed america can be safer. just -underscore a little bit on my own experience, 27 years with the intelligence community as a cia officer. so i've lived essentially into different areas. the cold war era, soviet union in the 1980's through 1990 or so. and then, driven by a passion for better understanding of the intersection between intelligence and policy. my makeup or the impact of what i am today was shaped by the iran-contra affair, something that are presented as hamilton is very familiar with in terms of the hearings that he read. in central america at that time, i came to a profound recognition that the constitution and then informed by the legislative process has rules that cannot be broken without consequences. but it instilled in me a passion to move from strictly the intelligence operatives in the field to one of utter understanding how policy and intelligence come together. and so i was blessed by an experience of 4.5 years and the national security council staff rising to senior intelligence direct
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